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Short-Term Investments | 12 Months Ended
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Dec. 31, 2019
Investments Debt And Equity Securities [Abstract] |
Short-Term Investments |
3. | SHORT-TERM INVESTMENTS
Short-term investments consist of various financial products with unsecured principal from financial institutions in China at original maturity less than one year when purchased. While these financial products are not publicly traded, the Group estimated that their fair value approximated the costs considering their short-term maturities and high credit quality.
|  | As of December 31, |
|  | 2018 |  |  | 2019 |
|  | RMB |  |  | RMB |
Short-term investments |  |  | 1,028,564 |  |  |  | 217,640 |
No impairment loss was recognized for the three years ended December 31, 2017, 2018 and 2019.

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